Needham Reiterates Hold Rating on Intel (INTC)

Needham analyst N. Quinn Bolton reiterated a Hold rating on Intel (NASDAQ: INTC).

The analyst comments "This morning before the open, Intel sold a 51% stake in Altera to Silver Lake at a $8.75BN enterprise value. The sale comes as no surprise as there has been speculation for months of a possible divestiture. The deal is expected to close sometime in 2H25 and Intel will retain the remaining 49% minority stake. We view the purchase price notably lower than anticipated when compared to FPGA peer Lattice Semiconductor who trades nearly double the EV/S valuation. Additionally, there had been rumors of the business being worth as much as $17BN. In conjunction with the sale, current CEO Sandra Rivera will be stepping down and experienced technology executive Raghib Hussain will be filling the role, effective May 5th. Following the close of the deal we will be removing Altera revenue of $1.66BN and $1.850BN in CY25 and CY26 from our INTC model."

For an analyst ratings summary and ratings history on Intel click here. For more ratings news on Intel click here.

Shares of Intel closed at $19.74 yesterday.

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